Has earnings growth peaked? Will the S&P hit a new record high this year? S&P Dow Jones Indices senior analyst Howard Silverblatt joins Markets Hub to discuss what to watch in 2013. Photo: Bloomberg.

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... and it was a very good year for the stock market in twenty twelve what will twenty thirteen bring about earnings about the economy ... top with Howard Silverblatt soon senior index analyst at the SNP Dow Jones Indices ... PowerBook Michelle had a new line of expanding the total to twenty dollars a year ... what do you see for the index's in twenty thirteen ... twenty fifteen is can be harder than twenty twelve and we complain about twenty twelve animation for station we had a sixteen percent only ten fifteen point one stock ... on the icing on unfunny of repeatable a tiny bit less than elite ... class on mid and small caps did well in the cat sitting in jail who degree it was at the meeting frustrating twenty fifteen is going to be with was this was that goes ... this will we spoke about gun tax cuts and stimulus situations and higher taxes which took the baton to dent welcomes them to key West the Guinea get that paycheck comes in you that so Security ... business that can be a lot more flesh painless will already have the good ones sitting on the ... last one's quest item as well as the Pentagon have if it buys and sells ... the sixteen trillion dollar debt when the news to come in it so can be a lot more challenging ... now in two thousand and fifteen in two thousand and twelve ... one hoping it becomes that some chronic where the and Washington ... which when the photo that I would want the and the Dax is holding them up back even if it scenario ... companies can welcome and you want to do had any plans the US so many variations but couldn't walk couldn't go twenty five percent this year ... because question the up and down ... I mean is actually a node election was he ... Seattle problem with that so a lot of it goes and watched in one camp says we need some kind of decisions from the list is just stay away ... plus some of the fundamentals go that's pretty easy to tell that now he only just pulled up some soccer season in the one days in the mornings year ... so yes the one below I mean you still pretty good year for the Dow despite ... all the talk and watching this but the focus on the macro picture ... but will it start talking about some of the fundamentals Alcoa last ... quarter earnings yesterday ... you know ... the song Co profit that's good but the numbers did not blow Wall Street away when we looking for earnings season is his fourth quarter so what what will they get ... it invested in and tasty too cool to keep the nation Alcoa's incentive as an example ... is in the fifty five to heal the great non Alcoa's instead of soft white op but ... if you look sequentially dashing down to ask what it's when you compare the two white use the APUs it ... on and and other than a week to the OB again put sequentially the increase in a lot ... to looking for earnings this quarter to be slightly off the OBE um okay also two thousand and ... twelve is going to be in with the new one this week totally miss that moment of total corporate profits at twenty five I've been to profit today and that's with the wind as he pointed a operating what cash flow and cash for them what you like the two thousandseven on this with top lady was made as he pointed to the Apple case and we went to cash flow with the money ... ALM so that's import night in two thousand the team can only still very hard ... the most downside to twelve to fifteen bottom of the ... top down analysts are all with the of the more pessimistic ... those numbers still seen on ... at this point he traditionally ... knows when the stock coming down with getting fourth-quarter will start in ... its because of the gift of banks and has a unique ... and you'll get two thousand thirteen guidance which is going to be spotty copies to be careful ... that's when the analysts have to actually go in and say that isn't on the route went about as reported an operating operating is the stripped out all that stuff really as reporters for the bottom line ... the law to look at the last three quarters for the fourth quarter there were some where ... she very narrow profit growth ... somebody on the year over year basis yes off on profits ... from the popping out of the plant owing we get totally try definitely could generate a nominal record like but the growth has slowed by now Will the Navy for two point five two point six percent this year compared to fourteen percent in coming to the next year ... the growth is not yet know Kate definitely slowed down ... our copies of quite as much as they they could margins are still very hard wounded in the not to ask what it would pay about nine percent ... sales of Indian point but yet gold has only two of ... those numbers of good when you look at all the Mexican unit the fundamentals of the PE is an official ... with the one two a bill was numbers of good How web of when not seem to grow ... in whatever will need the confidence ... to move forward consumers need to say yes my paycheck the state run even if it all in all my jaw testable my house estate like to stay in ... this is what we're not getting out of Washington unfortunately is not a lot of confidence ... in the leadership that might actually be difficult for you know ... it's not like Apple running Apple ... for the quarter to quarter eye popping numbers ... this quarter ... I believe the production is actually a profit growth will now will shrink to be down ... a company like Apple and some of the high flyers have been asking something some overall weakness ... presented over them and so could then Americans will roll the reason is that going to reverse ... at the battle to the numbness ... in any compassion and is the devil at Apple when they can out with the idea that quarter well that was it for the rest of the last quarter earnings and an attendant and he glides as head of pushing down and down with it keep the sink low for me ... it's what he looks better than the ... body am thinking with that with the new Apple ... I you know what to tell ... hell even if they come out with its going to be the expectations so high it's always a difficulty on the Street expectations with a lot ... no we lowered the estimate numbers in us of the company's peak but he all of those companies like Apple have a big swing ... in their estimates Gong fourth seed Andy McAfee get something a little fun today like an excellent ... pretty much stay with the city to the very few support surprises on knows ... that like Apple will make technology one way or another ... that's can make a big difference on it is still twenty percent of the Canadiens the higher the second one didn't pay inclined Index ... joined eighteen T ... they they always and ... then quilt it goes into single digit ... much for the night denied decent double digit you to feel that ... don't align fiasco now you mention a couple of sectors and what sectors look what sectors include this quarter in terms of earnings what sectors don't look so ... well ... the iam ... the materials which allow older with that we get fifty five he said but when you look it with a companion tonight is the new destabilization Indiana forget stable commodity prices as could help the cause of death with a small set by the financial sector was mixed village mean we difficult than one next week will start to get to know Commons India I'm not expected to show too much quilting he'll be Opel portal for all companies that number is on the with both seen it and b how did they make the numbers ... and how much of that charge off one day ... okay I know people in the ... sediment that we just better that yes they are going all the fun that we should get some quiet of ... our description you know this is of Bank of America said how much it's going to happen in the life of me is still the big legal on the US ... is still the biggest contributor ... to the earnings so how they go ... that's can make a difference of when we make the meal for say he'll be in ... awe for the quarter will lead that we actually go flat year on charges that he did with that ... HPQ hero ... you know you can really could in fact there are Howard Silverblatt appreciate the